ECONOMY

Global investors see default on Greek cards

International investors view a sovereign default by a euro-area nation as more likely than not with more than four-fifths betting Greece will eventually fail to pay off its debt, according to a survey prepared by Bloomberg.

Eighty-five percent of those surveyed this week said Greece probably will default, with majorities predicting the same fate for Portugal and Ireland, which followed Greece in seeking European Union-led bailouts, a new Bloomberg Global Poll shows. The outlook for all three countries deteriorated since January.

?All these countries will go bust at some stage,? said Wilhelm Schroeder, a poll participant who helps manage the equivalent of about $172 million for Schroeder Equities GmbH in Munich. ?I just can?t see a scenario in which these countries get out of their debt problems.?

The number of survey respondents anticipating a default in Greece rose 11 percentage points since January and 12 points from last June, according to the poll of 1,263 investors, analysts and traders who are Bloomberg subscribers.